GE close to buying Abbott unit for $5 bn
By Agencies |
Highlights
NEW YORK: General Electric was near a deal to buy the diagnostics business of Abbott Laboratories for more than $5 billion, according to a story on the New York Times website.
The story, which cited people familiar with the matter, said that buying the Abbott unit, which has annual revenues of about $4 billion, would expand GE���s stable of diagnostic products and services. A Wall Street Journal Web site story, citing people familiar with the matter, also reported that a deal was near but that it did not have additional details.
The Journal said it was possible GE could be buying a large part, but not all, of the Abbott unit. Representatives from GE or Abbott were not immediately available for comment.
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